Result of Open Offer

21 Dec 2005 17:05

Celtic PLC21 December 2005 Celtic plc ("Celtic" or "the Company") Result of Open Offer and Offer for Subscription On 28 October 2005, the Board of Celtic announced the terms of an Open Offer andOffer for Subscription ("Offers") of up to an aggregate of 50,000,000 newordinary shares of 1p each ("Ordinary Shares") at 30p per share to raise up to£15 million (before expenses). The Board of Celtic is pleased to announce that by 3.00pm on 20 December 2005,being the latest time and date for receipt of Application Forms and payment infull under the Open Offer, 19,546,028 shares representing 59.39 per cent. of thetotal number of Ordinary Shares offered via the Open Offer, had been applied forby Qualifying Shareholders. The Board has also exercised the discretionavailable to it under the Open Offer terms to accept applications fromQualifying Shareholders that were made after the closing time for the remaining13,368, 011 Ordinary Shares available under the Open Offer. Applications for a further 22,541,794 new Ordinary Shares, including lateapplications from existing Qualifying Shareholders accepted under exercise ofthe Board's discretion, have been made under the Offer for Subscription,representing approximately 132 per cent. of the shares offers under the Offerfor Subscription. The total take up under the Offers is 50,000,000 shares representing all of thetotal shares available under the Offers, raising a total of £15.00 million(before expenses) the Company. The new ordinary shares being issued under the Offers will rank pari passu withthe existing ordinary shares of the Company. Application has been made for boththe existing Ordinary Shares and the Offer Shares, together with the existingissued Preference Shares and Convertible Preferred Ordinary Shares, to beadmitted to trading on AIM and dealings are expected to commence on 22 December2005. This information is provided by RNS The company news service from the London Stock Exchange